U.S. Economy


How Global Trade Runs on U.S. Dollars

  • How Global Trade Runs on U.S. Dollars How Global Trade Runs on U.S. Dollars 4:15
    Palestinians' Strong Rejection of Trump's Mideast Peace Plan Palestinians' Strong Rejection of Trump's Mideast Peace Plan 2:19
    U.S. Hits Iranian Economy With Further Sanctions U.S. Hits Iranian Economy With Further Sanctions 2:22
    U.S. Exit From Syria Aids Turkey Plans for Buffer Zone U.S. Exit From Syria Aids Turkey Plans for Buffer Zone 4:37
10:09 a.m. Aug. 5, 2020 - Associated Press
U.S. officials rebut claim by Trump that deadly Beirut explosion resulted from ‘a terrible attack’ Trump from podium in White House briefing room: ‘It was a bomb of some kind, yes’President Donald Trump said at a White House briefing on Tuesday that unnamed generals had indicated to him that the Beirut blast appeared to have been caused by a bomb rather than, for example, an industrial mishap. He offered no specifics or evidence.
7:16 p.m. Aug. 4, 2020 - Associated Press
Beirut explosion: Cache of ammonium nitrate blamed for blast killing dozens, injuring thousands Neighborhood around downtown port devastatedA massive explosion rocked Beirut on Tuesday, flattening much of the city’s port, damaging buildings across the capital and sending a giant mushroom cloud into the sky. More than 70 people were killed and 3,000 injured, with bodies buried in the rubble, officials said.
12:57 p.m. Aug. 1, 2020 - Associated Press
Biden eyes major foreign policy shifts if he wins Americans could expect Biden to re-engage with traditional allies. Should former Vice President Joe Biden win the White House in November, America will likely be in for a foreign policy about-face as Biden reverses, dismantles or severely curtails many of President Donald Trump’s most significant and boldest actions.
11:20 a.m. July 18, 2020 - By Ciara Linnane
Coronavirus update: U.S. reports yet another record case tally for a single day while global cases top 14 million Florida is now the U.S. hot spot and Miami-Dade County is the epicenter with 77,866 infections and 2,866 fatalitiesThe U.S. counted yet another a daily record number of COVID-19 cases on Saturday, while the number of cases globally climbed above 14 million and some countries resumed restrictions on movement to contain the pandemic.
8:44 a.m. July 18, 2020 - Associated Press
UN chief: World ‘at the breaking point’ due to inequalities U.N. chief’s address marked the birthday of former South African president and Nobel Peace Prize winner MandelaSaying “we are at the breaking point,” the U.N. secretary-general made a sweeping call Saturday to end the global inequalities that sparked this year’s massive anti-racism protests and have been further exposed by the coronavirus pandemic.
11:16 a.m. July 17, 2020 - By Myra P. Saefong
Oil settles lower, posting modest change for week as rise in coronavirus cases stokes demand worries Brent crude futures end a dime below their week-ago finishOil futures ended lower for Friday’s session, not far from where they settled at a week ago, as the number of COVID-19 cases continues to rise, adding to uncertainty over the outlook for crude demand.
11:00 a.m. July 15, 2020 - By Myra P. Saefong
OPEC+ move to taper output cuts may ‘keep a floor’ under prices WTI, Brent oil futures log highest settlements in over 4 monthsThe Organization of the Petroleum Exporting Countries and their allies, collectively known as OPEC+, will taper oil production cuts starting in August, effectively raising output but not by as much as it seems.
3:13 a.m. July 15, 2020 - Associated Press
Seafarers group: Tanker off UAE sought by U.S. was ‘hijacked’An oil tanker sought by the U.S. over allegedly circumventing sanctions on Iran was hijacked on July 5 off the coast of the United Arab Emirates, a seafarers organization said Wednesday.
4:15 p.m. July 11, 2020 - By Summer Said
OPEC and allies set to ease oil output cuts, anticipating demand recovery Saudis propose relaxing the group’s production curbs by 2 million barrels a dayAn alliance of crude producers led by Saudi Arabia is pushing OPEC and its allies to increase oil production starting in August, officials in the group said, amid signs that demand is returning to normal levels following coronavirus-related lockdowns.
11:23 a.m. July 6, 2020 - By Myra P. Saefong
Brent oil scores a lift from Saudi price rise, China optimism, while rising coronavirus cases pressure U.S. crude Natural-gas futures rally after Berkshire/Dominion dealCrude-oil futures on Monday settle on a mixed note, with the U.S. oil moves pressured by the growth in coronavirus cases, while the international benchmark Brent climbs amid hope for China’s perceived recovery from the pandemic.
6:32 p.m. July 1, 2020 - Associated Press
Pompeo defends Trump administration response to intelligence assessments about Russian bounties on U.S. lives in Afghanistan Intelligence officials say the White House first became aware of alleged Russian bounties in early 2019 — a year earlier than previously reportedIntelligence officials have told the AP that the White House first became aware of alleged Russian bounties in early 2019 — a year earlier than previously reported.
11:44 a.m. June 30, 2020 - By Myra P. Saefong
Oil posts hefty quarterly climb, but coronavirus cases, oversupply worries feed year-to-date loss WTI oil ends more than 90% higher for the quarter, but still down nearly 36% year to dateOil futures end lower on Tuesday as persistent concerns about the rising number of cases of COVID-19 and the threat of more oil flowing out of the Middle East more than offset upbeat data suggesting both China’s manufacturing and service sectors are recovering.
10:16 a.m. June 29, 2020 - By Myra P. Saefong
Gold futures end higher, but silver declines as investors eye impact of COVID-19’s rapid spreadGold futures on Monday end higher as evidence of a rapid spread in coronavirus cases supported buying the haven metal to start the week, but investor worries over industrial demand for silver pressure prices for the white metal.
7:16 p.m. June 28, 2020 - Associated Press
‘This is as bad as it gets,’ says Pelosi as Trump denies he was briefed on Russian bounties in Afghanistan Growing furor as president downplays allegations of bounties on U.S. troopsPresident Donald Trump on Sunday denied that he had been briefed on reported U.S. intelligence that a Russian military intelligence unit secretly offered bounties to Taliban-linked militants for killing American troops in Afghanistan, and he appeared to minimize the allegations against Moscow.
7:16 p.m. June 22, 2020 - Associated Press
Surging U.S. coronavirus cases raise fear that progress is slipping away ‘It is snowballing,’ Houston hospital CEO says, warning hospitals could soon be overwhelmedAlarming surges in coronavirus cases across the U.S. South and West raised fears Monday that the outbreak is spiraling out of control and that hard-won progress against the scourge is slipping away because of resistance among many Americans to wearing masks and keeping their distance from others.
6:08 a.m. June 22, 2020 - Associated Press
WHO chief warns leaders against ‘politicizing’ the coronavirus pandemic The comments by Tedros Adhanom Ghebreyesus come as the number of reported infections soared in Brazil, Iraq, India and southern and western U.S. states, straining local hospitalsWorld leaders must not politicize the coronavirus pandemic but unite to fight it, the head of the World Health Organization warned Monday, reminding all that the pandemic is still accelerating and producing record daily increases in infections.
11:13 a.m. June 19, 2020 - By Myra P. Saefong
Oil tallies a nearly 10% weekly gain as OPEC+ tightens reins on output cuts, global demand outlook improves WTI oil logs highest finish since early MarchOil futures settled higher Friday for the day, with U.S. prices up nearly 10% for the week as OPEC members and allies tightened the reins on output cuts and some signs of improvement in the outlook for the global economy brighten the outlook for energy demand.
11:08 a.m. June 18, 2020 - By Myra P. Saefong
Oil prices finish higher as OPEC+ looks to make up for missed output-cut targets OPEC+ compliance to oil output cuts in May was 87%: JMMCCrude-oil prices finish higher on Thursday after major producers at an OPEC-led meeting of the Joint Ministerial Monitoring Committee, or JMMC, stressed the importance of full compliance with pledged production cuts and made moves to ensure that certain countries make up for failing to fully meet their reduction targets last month.
11:08 a.m. June 15, 2020 - By Myra P. Saefong
Oil settles higher as global production declines outweigh pandemic-related demand concerns BP warns of lasting impact from the pandemicOil futures give up earlier losses to settle higher Monday, buoyed by declines in global crude production even as the potential for a fresh hit to demand climbs on the back of an apparent increase in new cases of coronavirus.
8:15 a.m. June 13, 2020 - Associated Press
Temperature spike: Earth ties record high heat reading in May Parts of Africa, Asia, western Europe, South and Central America had record warmthEarth’s temperature spiked to tie a record high for May, U.S. meteorologists reported Friday.
11:47 a.m. June 12, 2020 - Associated Press
International aid groups alarmed by U.S. global retreat in midst of pandemicSave the Children, Mercy Corps, World Vision and other nonprofits says that “in spite of months of promising conversations with USAID field staff, few organizations have received an executed award for COVID-19 humanitarian assistance.”
11:16 a.m. June 11, 2020 - By Myra P. Saefong
U.S. oil prices drop over 8% as resurgence in coronavirus cases dulls demand outlook WTI and Brent oil futures settle at lowest since June 1Oil futures drop Thursday, with U.S. prices down more than 8% to post the biggest one-day loss in 6 weeks, as rising U.S. inventories, evidence of climbing cases of coronavirus, and a gloomy economic outlook from the Federal Reserve combine to undermine the recovery from historic lows seen in April.
11:30 a.m. June 6, 2020 - By Myra P. Saefong
OPEC and allied nations extend nearly 10 million barrel per day oil output cut by a month Danger still lurks for oil market as compliance with output deal remains patchy while countries lift business lockdowns imposed to combat the pandemicOPEC, Russia and allies were set on Saturday to extend record oil production cuts until the end of July after crude prices doubled in the past two months on the back of their efforts to withdraw almost 10% of global supplies from the market.
7:59 a.m. May 30, 2020 - By Ciara Linnane
Coronavirus update: Global death toll tops 365,000 as Brazil, Mexico and Peru record spikes in new cases Salesforce disappoints investors with subdued guidance, while Costco spends $300 million on wages and enhanced cleaningThe global death toll from the coronavirus that causes COVID-19 climbed above 360,000 on Friday, as Brazil, South Korea, the Philippines, Iran and Portugal all reported spikes in infections.
3:43 a.m. May 26, 2020 - Associated Press
‘This is an opportunity that we will not let pass’: Netanyahu plans to push ahead with annexation of West Bank areas Trump administration has taken a much softer line toward Israeli settlements than had predecessors of both partiesTrump administration has taken a much softer line toward Israeli settlements than had predecessors of both parties.
4:01 a.m. May 23, 2020 - Associated Press
Khashoggi’s sons forgive Saudi killers, sparing 5 executionThe family of slain Washington Post columnist Jamal Khashoggi announced Friday they have forgiven his Saudi killers, giving legal reprieve to the five government agents who’d been sentenced to death for an operation that cast a cloud of suspicion over the kingdom’s crown prince.
2:29 p.m. May 18, 2020 - Associated Press
Democrats say fired State Department watchdog was looking into Pompeo role in multibillion-dollar Saudi arms sale Inspector general also reportedly was looking into allegations that Sectretary of State Mike Pompeo misspent taxpayer-funded employee working hours on dog walking, dish washing and other personal errands for himCongressional Democrats say the State Department watchdog fired by President Donald Trump last week was investigating possible impropriety in a massive arms sales to Saudi Arabia last year, which skirted congressional opposition, adding new questions to the watchdog’s abrupt dismissal.
11:19 a.m. May 13, 2020 - By Myra P. Saefong
Oil prices post a loss even as weekly U.S. crude supplies and stocks at the Cushing storage hub decline EIA reports the 1st weekly fall in crude supplies in 16 weeksOil prices settle with a loss Wednesday, failing to find support even after U.S. government data showed an unexpected weekly decline in domestic crude supplies, along with a fall in stocks at the Cushing, Okla. storage hub.
11:52 a.m. May 11, 2020 - By Myra P. Saefong
Oil prices settle lower, even as Saudi Arabia announces additional June output cut WTI, Brent crude futures end lower as demand concerns remainOil futures end lower on Monday, as a slump in demand for crude outweighed support from a move by Saudi Arabia to further cut production in June.
12:01 a.m. May 11, 2020 - Associated Press
Iran says 19 sailors killed in training exercise mishapAn Iranian missile fired during a training exercise in the Gulf of Oman struck a support vessel near its target, killing 19 sailors and wounding 15, Iran’s state media reported on Monday, amid heightened tensions between Tehran and the U.S.
5:14 a.m. May 8, 2020 - By Selin Bucak
Here’s another reason Turkey’s lira may keep tumblingThe Turkish lira fell to a record low against the U.S. dollar this week and reports say the government has tried to stop the slide by taking action against three foreign banks.
11:22 a.m. May 7, 2020 - By Myra P. Saefong
Oil prices finish lower as worries about demand resurface Prices saw earlier gains as Saudi Arabia lifted prices and China oil imports climbed Crude-oil futures give up earlier gains on Thursday, with downbeat comments from Federal Reserve officials on economic activity and some doubts over producer compliance with OPEC+ output-cut agreement prompting prices to settle lower.
8:56 a.m. May 7, 2020 - By Gordon Lubold
U.S. to remove Patriot missile batteries from Saudi Arabia Removing missiles marks end of recent military buildup to counter Iran, officials sayThe U.S. is removing Patriot antimissile systems from Saudi Arabia and is considering reductions to other military capabilities, marking the end, for now, of a large-scale military buildup to counter Iran, according to U.S. officials.
10:34 a.m. May 5, 2020 - By Ciara Linnane
Coronavirus update: Death tally tops 250,000; reports say internal projections show government expects surge in COVID-19 cases Starbucks expects to open 85% of U.S. stores this week and L Brand scraps Victoria’s Secret stake saleThe number of deaths from COVID-19, the illness caused by the novel coronavirus, rose above 250,000 on Tuesday, amid news reports that internal projections used by White House officials were forecasting a jump in U.S. cases to come, even as President Donald Trump urges states to reopen.
5:45 a.m. April 29, 2020 - By Paul Brandus
If Moscow and Riyadh think they can put the U.S. shale industry out of business, they’d better think again U.S. companies may go bankrupt, but Putin and MBS need petrodollars to keep their citizens from riotingThere’s a lot of talk about how this might be the end of the shale sector, the end of the U.S. energy industry. that’s just not going to happen.
12:05 p.m. April 22, 2020 - By Robert Schroeder
Trump says he’s ordered Navy to destroy Iranian gunboats ‘if they harass our ships’ Threat comes after Islamic Republic launches first military satellite President Donald Trump warned Iran on Wednesday that he’d ordered the U.S. Navy to destroy any Iranian ships that “harass our ships at sea,” one week after close encounters between vessels from the two nations.
5:08 a.m. April 22, 2020 - By Steve Goldstein
The bear market isn’t over, Citi says. Here are the signals to watch.Citi’s global equity strategy team says the bear market, in stocks, isn’t done.
7:09 a.m. April 18, 2020 - By Kishore Mahbubani
How China could win over the post-coronavirus world and leave the U.S. behind COVID-19 pandemic may accelerate America’s declining status with traditional allies, former diplomat saysCOVID-19 pandemic may accelerate America’s declining status with traditional allies, writes former Singaporean diplomat Kishore Mahbubani.
3:02 p.m. April 17, 2020 - By Anne Snabes
Treasury says it will act with ‘urgency’ on humanitarian requests involving sanctioned countries during coronavirus pandemic The head of the Office of Foreign Assets Control said Friday she wants to ensure that economic sanctions against foreign countries do not impede U.S. humanitarian relief for the COVID-19 pandemic, but the former director of the agency said the business community wants it to go further.
1:03 p.m. April 16, 2020 - By Greg Robb
Europe, Africa work around White House with new plan to channel IMF aid to emerging-market countries Nations will send existing SDRs to poorest countries after White House blocks use of new allocationEuropean and African nations seem to have found a way around the U.S. opposition to an allocation of IMF Special Drawing Rights,
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